TIDMPLUS
RNS Number : 8684Y
Plus500 Limited
08 January 2024
8 January 2024
Plus500 Ltd.
("Plus500", the "Company" or together with its subsidiaries the
"Group")
Year End Trading Update
FY 2023 results delivered significantly ahead of market
expectations enabled by excellent financial, operational and
strategic progress
Plus500, a global multi-asset fintech group operating
proprietary technology-based trading platforms, today issues the
following trading update for the financial year ended 31 December
2023.
Operational and Financial Update
Plus500 made excellent operational and strategic progress during
FY 2023. This included the expansion of the Group's US futures
businesses, the launch of a localised retail trading platform in
Japan and further progress in the significant UAE market following
the grant of a regulatory licence earlier in the year.
Additionally, the Group added a regulatory licence in the Bahamas,
which means it now holds 13 regulatory licences globally,
representing a key competitive advantage for Plus500.
For the year ended 31 December 2023, the Group generated revenue
[1] of approximately $725m and EBITDA [2] of approximately $340m,
which are both significantly ahead of current market expectations
[3] . The Group's balance sheet remained robust and cash balances
as of 31 December 2023 were approximately $900m.
Significant Shareholder Returns
During FY 2023, Plus500 announced shareholder returns of
approximately $350m split between dividends and share buybacks.
These significant shareholder returns reflect the Group's ongoing
financial strength, its operational resilience and the Board's
continued confidence in the outlook for the Group.
Outlook for 2024
As the Group remains well positioned to continue executing
against its strategic objectives, enabled by its market-leading
technology and supported by its strong financial position, the
Board looks to the year ahead with confidence.
Notice of Results
Plus500 will publish its preliminary results for FY 2023 on 20
February 2024.
For further details:
Plus500 Ltd.
Elad Even-Chen, Chief Financial +972 4 8189503
Officer +44 (0) 7551 654208
Owen Jones, Head of Investor ir@Plus500.com
Relations
Dentons Global Advisors
James Melville-Ross +44 (0)20 7664 5095
James Styles Plus500@dentonsglobaladvisors.com
Methuselah Tanyanyiwa
About Plus500
Plus500 is a global multi-asset fintech group operating
proprietary technology-based trading platforms. Plus500 offers
customers a range of trading products, including OTC
("Over-the-Counter" products, namely Contracts for Difference
(CFDs)), share dealing, as well as futures and options on
futures.
The Group retains operating licences and is regulated in the
United Kingdom, Australia, Cyprus, Israel, New Zealand, South
Africa, Singapore, the Seychelles, the United States, Estonia,
Japan, the UAE and the Bahamas and through its OTC product
portfolio, offers more than 2,500 different underlying global
financial instruments, comprising equities, indices, commodities,
options, ETFs, foreign exchange and cryptocurrencies. Customers of
the Group can trade its OTC products in more than 60 countries and
in 30 languages.
Plus500's trading platforms are accessible from multiple
operating systems (iOS, Android and Windows) and web browsers.
Customer care is, and has always been, integral to Plus500. As
such, OTC customers cannot be subject to negative balances. A free
demo account is available on an unlimited basis for OTC trading
platform users and sophisticated risk management tools are provided
free of charge to manage leveraged exposure, and stop losses to
help customers protect profits, while limiting capital losses.
Plus500 shares have a premium listing on the Main Market of the
London Stock Exchange (symbol: PLUS) and are a constituent of the
FTSE 250 index. www.plus500.com .
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public
domain.
Forward looking statements
This announcement contains statements that are or may be
forward-looking statements. All statements other than statements of
historical facts included in this announcement may be
forward-looking statements, including statements that relate to the
Group's future prospects, developments and strategies. The Company
does not accept any responsibility for the accuracy or completeness
of any information reported by the press or other media, nor the
fairness or appropriateness of any forecasts, views or opinions
express by the press or other media regarding the Group. The
Company makes no representation as to the appropriateness,
accuracy, completeness or reliability of any such information or
publication.
Forward-looking statements are identified by their use of terms
and phrases such as "believe", "targets", "expects", "aim",
"anticipate", "project", "would", "could", "envisage", "estimate",
"intend", "may", "plan", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. The forward-looking statements in this announcement
are based on current expectations and are subject to known and
unknown risks and uncertainties that could cause actual results,
performance and achievements to differ materially from any results,
performance or achievements expressed or implied by such
forward-looking statements. Factors that may cause actual results
to differ materially from those expressed or implied by such
forward looking statements include, but are not limited to, those
described in the Risk Management Framework section of the Company's
most recent Annual Report. These forward-looking statements are
based on numerous assumptions regarding the present and future
business strategies of the Group and the environment in which it is
and will operate in the future. All subsequent oral or written
forward-looking statements attributed to the Company or any persons
acting on its behalf are expressly qualified in their entirety by
the cautionary statement above. Each forward-looking statement
speaks only as at the date of this announcement. Except as required
by law, regulatory requirement, the Listing Rules and the
Disclosure Guidance and Transparency Rules, neither the Company nor
any other party intends to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
[1] Revenue is comprised of trading income and interest
income
[2] EBITDA - Revenue (trading income and interest income) minus
operating expenses plus depreciation and amortisation
[3] Market expectations is defined as the consensus forecasts of
analysts after Plus500's Q3 2023 update in October 2023
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END
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(END) Dow Jones Newswires
January 08, 2024 02:00 ET (07:00 GMT)
Plus500 (AQSE:PLUS.GB)
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